The founder of Gokhshtein Media called the owners of the LUNC crypto asset crazy because they are striving to raise the value of the crypto asset to $1 by all means.
David Gokhshtein’s statement appeared as a comment on a tweet from the LunarCrush social analysis platform for cryptocurrencies. The LunarCrush team asked subscribers a question: why is the hype growing around LUNC, despite the massive collapse of the Terra project in May 2022? LunarCrush is surprised that since the incident, the LUNC community continues to expand and remain active like never before, with a market capitalization of LUNC of $1.8 billion.
A couple of unusual things are happening in this bear market:
1) There is an overwhelming interest in #memecoinstheir communities are loud and socially active.
2) After crashing +99%, the $LUNC community has grown and is more active than ever before.
What is going on
— LunarCrush (@LunarCrush) October 5, 2022
In May, the stablecoin TerraUSD (UST) lost its peg to the US dollar, and the rate of the LUNA coin, which served as collateral for UST, also collapsed. The collapse of Terra further provoked the fall of the crypto asset market. Some participants in the cryptocurrency industry call the founder of Terra Do Kwon a scammer, others are sure that the whole thing is in the unfinished ecosystem of the project. The Terra 2.0 ecosystem restart took place on May 27, and the network was renamed Terra Luna Classic.
The victims of the collapse of the Terra ecosystem do not leave efforts to revive LUNC and USTC. In September, Binance CEO Changpeng Zhao proposed a flat 1.2% tax on transactions with LUNC to burn tokens. This has resonated with investors hoping that LUNC’s price will rise sharply if the token supply shrinks.
Answering a question from LunarCrush, Goshtein called the members of the LUNC community crazy, as they are ready to do everything so that the price of the crypto asset reaches at least $1. However, Gochstein’s criticism of LUNC holders came as little surprise, as he had previously called LUNC a worthless lottery ticket. Although the critic himself was tempted to acquire this asset.
Gochstein recently expressed interest in XRP, calling it an altcoin with great potential, despite Ripple’s long-running legal battle with the US regulator.
Source: Bits
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